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Commissioner O'Bryan voiced concern that there would be nothing to prevent Bella <br />Vista Isles (BVI), which has two out-of-town principal owners, from walking away from the <br />project before its completion. He was pleased to know, after having met with one of the <br />representatives last week, that they had a marketing plan. <br />Commissioner Davis shared the same concerns and pointed out that a lis pendens <br />had been filed against the property. <br />Joseph Paladin, President of Black Swan Consulting, representing Bella Vista Isles <br />(BVI), reminded the Board that this item was being brought back from a previous meeting. He <br />confirmed that they do have a marketing plan and exit strategy. Mr. Paladin informed the Board <br />that the lis pendens on the property was a negotiation between BVI and one of the subcontractors, <br />which he said had been worked out. He acknowledged that the out-of-town investors have no <br />influence over the project, and was simply a funding issue. <br />Gary Brown, 22187 Waterside Drive, Boca Raton, related that he and his wife are <br />both listed as agents and that they had completed six projects in other counties. He said that <br />currently, theywere working two projects, one in Indian River, the other in Boca Raton. Mr. <br />Brown assured the Board that he and his wife are fully committed to moving forward with the <br />Bella Vista Isles project. He reported that they may bring in an investor but they would still <br />guarantee the loans. <br />ON MOTION by Commissioner O'Bryan, SECONDED by <br />Commissioner Davis, the Board by a 4-0 vote (Chairman <br />Wheeler absent) granted final plat approval for Bella Vista <br />Isles Subdivision, as recommended in the memorandum of <br />October 29, 2007. <br />November 6, 2007 11 <br />